Martingale Asset Management L P Buys 3,269 Shares of Wells Fargo & Company (NYSE:WFC)

Martingale Asset Management L P raised its position in shares of Wells Fargo & Company (NYSE:WFC) by 75.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,599 shares of the financial services provider’s stock after purchasing an additional 3,269 shares during the period. Martingale Asset Management L P’s holdings in Wells Fargo & Company were worth $429,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Cardinal Capital Management Inc. raised its holdings in Wells Fargo & Company by 2.0% during the 3rd quarter. Cardinal Capital Management Inc. now owns 575,419 shares of the financial services provider’s stock valued at $32,505,000 after acquiring an additional 11,037 shares during the period. Chartwell Investment Partners LLC increased its holdings in Wells Fargo & Company by 16.4% during the 3rd quarter. Chartwell Investment Partners LLC now owns 132,829 shares of the financial services provider’s stock worth $7,504,000 after acquiring an additional 18,717 shares during the period. Argus Investors Counsel Inc. lifted its stake in Wells Fargo & Company by 34.6% in the 3rd quarter. Argus Investors Counsel Inc. now owns 31,514 shares of the financial services provider’s stock worth $1,780,000 after purchasing an additional 8,107 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Wells Fargo & Company by 14.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,027,696 shares of the financial services provider’s stock valued at $58,055,000 after purchasing an additional 131,322 shares in the last quarter. Finally, Public Sector Pension Investment Board increased its holdings in shares of Wells Fargo & Company by 81.6% in the third quarter. Public Sector Pension Investment Board now owns 1,981,130 shares of the financial services provider’s stock worth $111,914,000 after purchasing an additional 889,953 shares during the period. 75.90% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Wells Fargo & Company news, EVP Ather Williams III sold 60,000 shares of the firm’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $63.70, for a total transaction of $3,822,000.00. Following the completion of the transaction, the executive vice president now owns 163,610 shares of the company’s stock, valued at approximately $10,421,957. This trade represents a 26.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Beurden Saul Van sold 35,000 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $61.99, for a total transaction of $2,169,650.00. Following the sale, the executive vice president now owns 126,687 shares in the company, valued at approximately $7,853,327.13. This trade represents a 21.65 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

WFC has been the subject of a number of research analyst reports. Morgan Stanley dropped their price target on Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a research report on Monday, September 30th. The Goldman Sachs Group cut their price target on shares of Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Royal Bank of Canada restated a “sector perform” rating and set a $61.00 price objective on shares of Wells Fargo & Company in a research report on Monday, October 14th. Evercore ISI upped their target price on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Citigroup raised their price target on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Thirteen analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $64.62.

Wells Fargo & Company Stock Down 1.5 %

NYSE WFC opened at $74.14 on Wednesday. The business’s 50-day moving average is $66.28 and its 200 day moving average is $60.52. The stock has a market capitalization of $246.85 billion, a PE ratio of 15.41, a PEG ratio of 1.57 and a beta of 1.16. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.85 and a quick ratio of 0.85. Wells Fargo & Company has a 1 year low of $44.41 and a 1 year high of $78.13.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.14. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The firm had revenue of $20.37 billion for the quarter, compared to analysts’ expectations of $20.40 billion. During the same period in the previous year, the firm earned $1.39 earnings per share. The business’s revenue was down 2.4% compared to the same quarter last year. Sell-side analysts forecast that Wells Fargo & Company will post 5.42 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Friday, November 8th were given a $0.40 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.60 annualized dividend and a dividend yield of 2.16%. Wells Fargo & Company’s dividend payout ratio is 33.26%.

Wells Fargo & Company Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.